v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net loss $ (6,721,204) $ (4,072,094)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 267,817 300,707
Stock-based compensation expense 538,223 569,907
Fair value adjustment on warrants 1,062,818
Changes in operating assets and liabilities:    
Accounts and other receivables 717,335 (783,952)
Inventory (16,363) (11,284)
Prepaid expenses and other assets 29,706 63,676
Accounts payable 182,526 243,313
Accrued expenses (350,688) (180,718)
Unearned revenue (6,923)
Operating lease right-of-use asset 849 (1,032)
Net cash used in operating activities (4,288,981) (3,878,400)
Cash flows from investing activities    
Purchase of property and equipment (64,213) (69,672)
Net cash used in investing activities (64,213) (69,672)
Cash flows from financing activities    
Proceeds from issuance of Common Stock from direct offering, net of underwriting discounts, commissions, and offering expenses of $112,922 in 2025 and $495,000 in 2024 2,798,354 2,005,000
Proceeds from exercised stock options 74,899
Proceeds from exercise of warrants, net of underwriting discounts, commissions, and offering expenses of $243,145 1,558,576 147
Payment on loans payable (112,951)
Proceeds from loans payable 26,872
Principal repayments on finance leases (193,241) (179,105)
Net cash provided by financing activities 4,050,738 1,927,813
Net decrease in cash and cash equivalents (302,456) (2,020,259)
Cash and cash equivalents at beginning of period 1,105,291 2,821,570
Cash and cash equivalents at end of period 802,835 801,311
Supplemental disclosures of cash flow information:    
Interest expense paid in cash 2,567 45,799
Income taxes paid in cash $ 37,679 $ 9,091

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